VYYRF - Voyageur Pharmaceuticals Ltd. Announces Closing of Second Tranche of Private Placement
(TheNewswire)
Calgary, Alberta – TheNewswire- May 28, 2021 – Voyageur Pharmaceuticals Ltd. ( TSX.V:VM) ( OTC:VYYRF ) (the"Company" or "Voyageur") announces that, furtherto news releases dated April 13 and 23, 2021 and May 5, 2021, it hasclosed the second tranche of a non-brokered private placement ofcommon units ("Common Units") and flow-through units("Flow-Through Units") (the "Offering"). TheOffering is a combination of (i) Common Units issued at a price of$0.15 per Common Unit and comprised of one (1) common share("Common Share") and one (1) Common Share purchasewarrant, exercisable at $0.30 for a period of two years from theclosing date, and (ii) Flow-Through Units issued at a price of $0.18per Flow-Through Unit and comprised of one (1) common share issued ona flow-through basis and one Common Share purchase warrant, with eachwhole warrant being exercisable at $0.40 for a period of two yearsfrom the closing date. Pursuant to the closing of the second trancheof the Offering, the Company issued 575,000 Common Units for grossproceeds of $86,250 and 28,000 Flow-Through Units for gross proceedsof $5,040, bringing the total raised under the Offering to date to$1,522,567.17.
In connection with the Offering, Voyageur paid cashcommissions of $3,780 and issued 28,800 broker warrants exercisable atprice of $0.15 per Common Share, for a period of two years from thedate of issuance.
Completion of the Offering is subject to regulatoryapproval including, but not limited to, the approval of the TSXVenture Exchange. The securities issued are subject to a four monthhold period from the date of issuance.
The Company intends tocomplete a closing of the third tranche of the Offering on or prior toJune 11, 2021. Readers are directed to the news releases of theCompany dated April 13 and 23, 2021 and May 5, 2021, for moreinformation about the terms of the Offering.
About Voyageur
Voyageur Pharmaceuticals Ltd. is a Canadian publiccompany listed on the TSX Venture Exchange under the trading symbolVM. Voyageur is focused on the development of barite and iodine,Active Pharmaceutical Ingredient (API) minerals. The near-term focusis developing barium and iodine radio-contrast pharmaceuticalproducts. Voyageur’s goal is to initially generate near termpositive cash flow from operations using third party GMPpharmaceutical manufacturers in Canada and internationally.Ultimately, Voyageur has plans to build all the requiredinfrastructure to become 100% self-sufficient with all manufacturing.Voyageur owns a 100% interest in three barium sulfate (barite)projects including two properties suitable in grade for the industrialbarite marketplace, with interests in a potentially high-grade iodine,lithium & bromine brine project located in Utah, USA.
Voyageur is moving forward with its business plan ofbecoming the only fully-integrated company in the radiographiccontrast medical field, by controlling all primary input costs underthe motto of: "From theEarth to the Bottle"
For Further Media Information or to set up aninterview, please contact:
Brent Willis
President & CEO
Ron Love
CFO
T 403.818.6086
E ronl@vpharma.ca
www.voyageurpharmaceuticals.ca
Forward Looking Information
This news release may contain certain forward-lookinginformation and statements, including, without limitation, statementspertaining to the closing of the third tranche of the Offering and thetiming thereof, and obtaining the necessary approvals of the TSXVenture Exchange. All statements included herein, other thanstatements of historical fact, are forward-looking information andsuch information involves various risks and uncertainties. There canbe no assurance that such information will prove to be accurate, andactual results and future events could differ materially from thoseanticipated in such information. A description of assumptions usedto develop such forward-looking information and a description of riskfactors that may cause actual results to differ materially fromforward-looking information can be found in the Company's disclosuredocuments on the SEDAR website at www.sedar.com. Voyageur does notundertake to update any forward-looking information except inaccordance with applicable securities laws.
Reader Advisory
Neither the TSXV nor its Regulation Services Provider(as that term is defined in the policies of the TSXV) acceptsresponsibility for the adequacy or accuracy of this newsrelease.
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